Alteryx Analytics Automation powered by AWS allows CFOs to modernize financial processes with new technologies and automated self-service analytics in the cloud
Alteryx, Inc. (NYSE: AYX), the Analytics Cloud Platform company, today announced decision intelligence and intelligent automation capabilities on Amazon Web Services (AWS) designed to empower chief financial officers (CFOs) and finance leaders to embrace cloud and data analytics as strategic tools for their modernization goals.
“Analytic insights help us tailor digital transformation solutions based on our clients’ needs to achieve the greatest impact for their business,” said Ana Margarita Albir, president at ADL Labs. “Leveraging Alteryx and AWS, we are able to integrate capabilities across any data source, visualize and analyze data in real time, and enhance security, resulting in an estimated $6 million in cost and efficiency savings for both ADL and our clients.”
Changing regulations and manual processes in the office of finance often mean repetitive work, time consuming data input, and hours of labor spent in preparing spreadsheets. The Alteryx intelligent automation capabilities available on AWS maximize the benefits of cloud for office of finance teams by modernizing processes that help them solve more complex data problems and adapt to constantly changing market environments. Highlights:
- Impact the bottom line: Analytics automation significantly reduces the time and effort spent with manual processes, freeing up time for analysts on strategic projects moving the business forward. For instance, analysts on billing teams have used Alteryx to reduce the cost of overhead of manual bill reporting up to 25 percent.1 An accounting team reconciling financial data reduced time spent on reconciliation processes up to 99 percent.2
- Modernize with new technologies: Alteryx leverages the power of AWS to provide an environment where technologies like artificial intelligence, machine learning, data science, robotic process automation, and blockchain meet, making it easier for CFOs to quickly deploy and use new technology right away. For example, a finance team relying on labor-intensive, outdated tools for calculating sales tax liability can quickly adopt automation and configure alerts on incorrectly taxed transactions, freeing up tax resources for higher-value activities.
- Gain data-driven insights at scale: Finance departments are expected to deliver regular insights to management for decision-making. Alteryx provides an automated process for connecting and combining different data sources, helping finance teams quickly process and transform large amounts of data so they can generate reports in a fraction of the time.
- Digitally upskill across finance: Alteryx provides a self-service, low-code/no-code environment so that an analyst or business user can quickly upskill in data and analytics while leveraging the power and scalability of AWS.
“Businesses globally are looking to automate for efficiencies and drive deeper insights to quickly respond to multifaceted challenges and dynamically changing landscape,” said Nitin Brahmankar, vice president, ISV and Global Ecosystem Partnerships, Alteryx. “We are working with AWS to empower finance teams to leverage the power of the cloud and modernize financial processes to perform critical analysis that truly matters to their bottom line.”
“With Alteryx Analytics Automation powered by AWS, finance teams can innovate and modernize tax and audit processes with automated self-service analytics that streamline and accelerate traditional compliance work,” said Madhu Raman, worldwide head of automation at AWS. “Organizations can benefit from templates that help data analysts and line-of-business users to use, customize, extend, and integrate enterprise data with intelligent automation workflows that assist with record to report, procure to pay, and order to cash processes.”
Get the insights you need to modernize the Office of Finance with Alteryx and AWS.
1 Bill Reporting | Alteryx. (n.d.). https://www.alteryx.com/use-case-navigator/bill-reporting
2 Reconciliation of Financial Systems | Alteryx. (n.d.). https://www.alteryx.com/use-case-navigator/reconciliation-of-financial-systems
Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!
